President Obama Attacks Business Jet Ownership Again in Debate Speech

October 15, 2012, Michael Arnone

As we wind down the final stages of what will likely be the most important presidential election in our nation’s history, we needn’t remind ourselves of the constant attacks on our industry by the current administration. During the first presidential debate, President Obama missed no opportunity to make his views clear on our industry, noting, “If you’ve got a corporate jet, you can probably afford to pay full freight, not get a special break for it.”

During the debate, he constantly used the term “Corporate Welfare.” This from a president who granted billions in special tax subsidies to all manner of small and big business interests. He practically allowed the drug companies to write his nationalized healthcare plan and he has granted hundreds of tax credits, import/export credits, and trillion dollar bailouts to the auto companies, banks, and his special “green” projects.

Ironically, in his debate responses he calls these “investments” in the American people. Apparently Solyndra, a $535 million dollar bad “investment” for which taxpayers are footing the bill is not corporate welfare despite the fact that one of Solyndra’s main lobbyists was a major Obama Super Pac donor during the last election.

It appears the only difference between investments in the American people and corporate welfare is which companies are contributing to President Obama’s campaign re-election in several weeks’ time. Perhaps President Obama should take a closer look at his party’s efforts to tax the wealthy back in the early 1990s with the luxury boat tax. That tax threw tens of thousands of people out of work and destroyed the U.S. luxury boat sector.

When you step into the booth in two weeks’ time, it might be prudent to remember a quote from President George H. W. Bush in his 1992 State of the Union Speech when he noted, “When they aim for the big guy, they usually hit the little guy. And maybe it’s time that stopped.”

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